MFDA Hearing Panel issues Decision and Reasons with respect to motion in the
matter of Gary A. Price

TORONTO , Dec. 1 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Decision and Reasons in connection with a motion heard in Toronto , Ontario on October 13, 2009 in the matter of Gary Alan Price .

    
    The motion, brought by MFDA Staff, was for an Order that:

    (a) the Decision and Reasons (Misconduct) dated June 12, 2009 in this
        matter be declared null and void and removed from the MFDA website;

    (b) the Hearing Panel in this matter be struck; and

    (c) the disciplinary proceedings against Mr. Price be remitted for a new
        hearing before a reconstituted Hearing Panel.
    

The motion was heard on October 13, 2009 and the Hearing Panel advised that it would make its decision and issue reasons in due course. In its Decision and Reasons, published today, the Hearing Panel advised that "the Decision and Reasons filed by this Panel...on June 12, 2009 , is hereby set aside." As a consequence, the penalty phase of this hearing will not take place.

A copy of the Decision and Reasons (Motion to Declare Decision on Misconduct Null and Void) is available on the MFDA website at www.mfda.ca.

The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 144 Members and their approximately 75,000 Approved Persons with a mandate to protect investors and the public interest.

For further information: Shaun Devlin, Vice-President, Enforcement, [phone] or [email protected]